CHADDS FORD, Pa. — Flagship Credit Acceptance recently announced its controlling shareholder increased its capital investment to support the company’s growing auto finance platform.

Flagship also revealed it entered into an agreement with Wells Fargo Bank to renew and increase its commercial credit facility to $175 million.

Officials explained the credit facility represents an additional committed source of liquidity to fund the company’s auto finance consumer lending activities. They added the facility also will be utilized to support Flagship’s strategic growth plans.

“By continuing to expand Flagship’s capital base, we are demonstrating our ongoing commitment to increasing the company’s consumer lending activities,” stated Michael Ritter, Flagship’s founder and chief executive officer.

“As we continue to grow, we will build upon our solid underwriting and servicing platforms. We are pleased to have the support of our shareholders and debt providers as we look to assist even more dealers in providing auto finance solutions to their below-prime car buyers,” Ritter concluded.